The government will cut tax for those earning less than a million – news Norway – Overview of news from different parts of the country

– With this budget, your income tax will go down a little if you earn less than NOK 1 million, says Vedum to news. According to Finance Minister Trygve Slagsvold Vedum (Sp), the changes they propose for income tax will be labeled as follows: If you earn NOK 700,000, you will get NOK 4,800 less income tax with the budget. If you earn NOK 200,000, you will get around NOK 10,000 less income tax. If you earn almost NOK 1 million, you can get a few hundred Swedish kroner relief on income tax. Those who earn over NOK 1 million may have to pay a little more in tax According to the finance minister, the government will then cut a total of NOK 10.5 billion compared to when the Støre government took over in 2021. Thinks it is now “ordinary people’s turn” The message from the existing government of the Labor Party and the Center Party has been from day one that they should conduct politics “for the majority of people”. Now the finance minister claims that the state budget presented today will ease the tax burden – especially for “most people”. On the table is a stack of “flakes” containing various issues in the state budget that the Finance Minister from the Center Party will present on Monday. Photo: Tommy Iversen / news – There has been talk for a long time that it should be the turn of ordinary people. Is it now, in 2025, that it is finally the turn of ordinary people? – Yes, it is. And fortunately also now in 2024, we see that purchasing power is on the way up again. What is so good is that people keep jobs. Then there are many individual tax and cost measures that will help people, says Vedum to news. Deliberate move to cut income tax Vedum believes he and the government are thus delivering on their own election promises. – This is what we are going to election on. We believe in a Norway with fewer differences. In that case, prioritizing income tax relief for the general public is precisely one of our moves, he says. The Minister of Finance also mentions other changes that have already come as budget leaks. Among other things, that they want more people to be able to have their student loans forgiven if they live in the rural areas, that they plan to cut the VAT on water and sewage charges and that they scrap the extraordinary employers’ tax. The Minister of Finance believes that the changes in income tax will also be felt by the voters who will be affected. – The Center Party and the Labor Party believe that easing income tax is a good move. And we want to target that mostly at those with low incomes, says Vedum. Published 07.10.2024, at 06.30



ttn-69